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About This Home
This 0-bedroom, 0-bathroom residential multi family at 23 W Laurel Street in Millstadt, IL is listed for $385,000 ($203 per sqft). Built in 1902, the home offers 1,896 sqft of living space on a 0.26 acres lot.
Beautiful Victorian-style home thoughtfully converted into four separate apartments, blending timeless old-world charm with modern updates. Located in the heart of Millstadt and within walking distance to local restaurants and shops, this property offers both strong cash flow and long-term appreciation potential. Income-Producing Details: • Gross Monthly Income: $3,625 • Monthly Expenses: $1,212 • Net Monthly Income: $2,413 • Additional Income Potential: 2-car garage rentable for approx. $100–$150/month • Nearly a 8.0% cap rate exceeding the typical cap rate of 6-7.25% in our area Unit Breakdown: • Three (3) units: 1 bedroom, 1 bath • One (1) unit: 2 bedrooms, 1 bath Property Highlights: • Hardwood or luxury vinyl plank flooring throughout • Updated kitchens with new cabinetry • Updated bathrooms • Separate electric meters for each unit • Refrigerators and electric range/oven included in all apartments • Roof on main house less than 10 years old • New siding (2016) • New roof on garage (2026) This well-maintained property offers immediate income with upside potential through garage rental and future rent adjustments. Strong curb appeal, historic character, and a prime in-town location make this a standout addition to any investment portfolio.
A minimum of 24 hour notice required. Preappproval or proof of funds must be provided to listing agent before viewing.
Key Features
- Built in 1902
- 0.26 acre lot
- 2 stories
Property Details
Amenities
Monthly Cost Estimate
$2,059/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
23 W Laurel Street
Millstadt, IL 62260
Randlemans 1st Add
Features & Amenities
Interior Features
Property Details
Flooring
Construction
Parking
Heating
Cooling
Appliances
Questions & Answers
This 0-bedroom, 0-bathroom residential multi family at 23 W Laurel Street is listed at $385,000 ($203/sqft). The estimated monthly payment is $1,668 based on 20% down at 6.5% interest.
Key features include: Built in 1902, 0.26 acre lot, 2 stories. Interior Features: Ceiling Fan(s), High Ceilings, Historic Millwork.
This property is listed by Judy Ross and can be reached at 6187894379 or ross4913@gmail.com.